The debut fund of Crédit Mutuel Asset Management's Impact First Inclusion strategy, which launched in May 2023, has been named as the social fund of the year in this year's Sustainable Investment Awards.

With €20 million ($21.4 million) of capital commitments, as of early 2024, the fund invests in listed equities that demonstrate social impact, plus social and sustainable bonds, whereby the use of proceeds aligns with promoting social inclusion. The strategy is based on three themes of impact investment – intentionality, additionality and measurability – with judges impressed by its "intuitive" approach.

For the launch of its impact investment strategy, Crédit Mutuel designed an analytical matrix utilising its existing ESG data and tools, ensuring the environmental and social changes it is encouraging from each portfolio company are laid bare.

Crédit Mutuel claims the vehicle is the first of its kind for the French market, having been approved by the French regulator last year.

"We are delighted to have won this Sustainable Investment Award for the first fund of our newly launched 'Impact First' investment franchise," said Sophie Rahm, head of impact investing at Crédit Mutuel Asset Management. "Backed by the ambitious environmental and social vision of the Crédit Mutuel group, we have recently embarked on the journey of impact investing in the listed asset space.

"We are convinced that we have a role to play in allocating capital towards issuers and companies that can demonstrate a positive contribution to social transformation.

"As an impact investor, we believe they make financial and societal sense. It is our role to signal to these issuers and companies that we rely on more than just financial returns to create value for our clients."